Welcome to our dedicated page for Sm Energy SEC filings (Ticker: SM), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
SM Energy Company filings document the regulatory disclosures of an independent upstream oil and gas company producing crude oil, natural gas, and NGLs across Colorado, New Mexico, Texas, and Utah. Its 8-K reports furnish operating and financial results, realized commodity prices, derivative activity, share data, and related earnings materials.
The filing record also covers capital-structure and financing matters, including senior note issuances, purchase agreements, subsidiary guarantees, and tender offer disclosures for outstanding notes. Proxy materials and related filings address shareholder voting, governance matters, executive and board oversight, and other public-company disclosure topics.
SM Energy Company amended its revolving Credit Agreement. The Third Amendment removes the prior “springing maturity” that could have accelerated the October 1, 2029 maturity if over $50,000,000 of senior notes remained outstanding 91 days before their due date. The new clause accelerates maturity only if two conditions are both met: (i) the outstanding balance of all Senior Notes and other unsecured debt maturing within 91 days exceeds $50,000,000 in aggregate, and (ii) borrowing availability under the Credit Agreement, less that near‑term unsecured debt, is less than 20% of the current revolving commitment.
The company also announced completion of its semi‑annual borrowing base redetermination and the amendment via a press release furnished under Regulation FD. The press release was included as an exhibit.
Elizabeth Anne McDonald, President & COO of SM Energy Co (SM), reported securities transactions dated 09/09/2025. The filing shows a grant of 9,690 restricted stock units (RSUs) that vest in three equal annual installments on 09/09/2025, 07/01/2026 and 07/01/2027; vested shares will be issued to the reporting person when restrictions lapse. The filing also reports a disposition of 4,240 shares at a price of $26.71, leaving 5,450 shares beneficially owned following the reported transactions. The form is signed by an attorney-in-fact on behalf of the reporting person on 09/09/2025.
SM Energy Company announced an executive leadership transition: Chief Executive Officer Herbert S. Vogel informed the board he will retire as CEO on March 1, 2026 and resigned as President effective September 4, 2025. Mr. Vogel will remain on the board. To support an orderly handoff, the company named Elizabeth A. McDonald (age 46) as President and Chief Operating Officer effective September 4, 2025. Ms. McDonald joined the company as Executive Vice President and Chief Operating Officer in September 2024 and spent ~20 years at Pioneer Natural Resources in senior Permian Basin and South Texas roles. No related-party or reportable transactions or special arrangements were disclosed regarding her selection.
Q2-25 snapshot: SM Energy (SM) reported operating revenue of $792.9 million, up 25% YoY, as the October 2024 Uinta Basin purchase now delivers 30% of sales. Net income eased 4% to $201.7 million and diluted EPS slipped to $1.76 from $1.82 amid higher lifting and DD&A costs.
Key metrics
- 1H-25 operating cash flow rose 40% YoY to $1.05 billion, comfortably covering $824 million of capex.
- Cash & equivalents: $101.9 million; revolver paid down to $0, leaving $2.0 billion of unused commitments.
- Senior notes outstanding: $2.71 billion; no maturities until 2026; net debt unchanged.
- Quarter dividend maintained at $0.20/share; $500 million remains on the repurchase authorization (no buybacks YTD).
- Q2 hedge book added $78.3 million non-cash gain plus $39.7 million cash settlements.
- Cost pressure: production expense +64% YoY to $224.0 million; DD&A +63% to $293.0 million; interest expense doubled to $42.6 million.
Management is shifting from integration to optimization of the Uinta asset while reiterating its focus on balance-sheet strength and shareholder returns. Liquidity is ample, covenant headroom strong, but rising operating costs and capex temper earnings momentum.
SM Energy (SM) – Form 4, insider activity by EVP & CFO A. Wade Pursell. On 07/24/2025 Pursell received 11,436 common shares after the Compensation Committee certified performance criteria for a July 1 2022 performance share-unit (PSU) award. Immediately thereafter, 5,005 shares were withheld at $24.71 per share (code F) to satisfy tax obligations, leaving 405,426 shares held directly.
In addition, on 07/25/2025 Pursell was granted 48,003 restricted stock units (RSUs); each RSU converts 1-for-1 into common stock and vests in six equal bi-annual tranches beginning 01/01/2026. Following the grant, he now beneficially owns 48,003 derivative RSUs plus the common shares noted above.
- No purchase or sale for cash; transactions stem from equity compensation and tax withholding.
- The filing signals PSU performance goals were achieved and aligns the CFO with shareholders via a sizeable equity stake (~0.3 M shares).